Term
| Business-to-Business Marketing (B2B) |
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Definition
| organizational sales and purchase of goods and services to support production of other products, for daily company operation or for resale. 188 |
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Term
| 4 Major Categories define the busines market |
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Definition
| 1) THE COMMERCIAL MARKET, 2) TRADE INDUSTRIES, 3) GOVERNMENT ORGANIZATIONS 4)INSTITUTIONS. 190 |
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Term
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Definition
| individuals and firms that acquire products to support, directly or indirectly, production of other goods and serrvices. 190 |
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Term
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Definition
| retailers or wholsalers that purchase products for resale to others. 190 |
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Term
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Definition
| retailers or wholesalers that purchase products for resale to others. 190 |
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Term
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Definition
| Marketing intermediates that operate in the trade sector. 190 |
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Term
| Customer-based Segmentation |
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Definition
| dividing a B2B market into homogeneous groups based on buyers' product specifications. 192 |
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Term
| North American Industrial Classification System (NAICS) |
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Definition
| classification used by NAFTA countries to categorize the bus. marketplace inot detailed market segments. 193 |
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Term
| End-use application segmentation |
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Definition
| segmenting a b2b market based in how industrial purchasers will use the product. 193 |
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Term
| Customer Relationship Managment (CRM) |
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Definition
| strategies and tools that reorient an entire organization to focus on satisfying customers. 193 |
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Term
| Characteristics of the B2B Market |
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Definition
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Term
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Definition
| purchasing goods and services from suppliers worldwide. 197 |
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Term
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Definition
| demand for a resource that resiults from demand for the goods and services that are produced by that resource. 197 |
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Term
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Definition
| demand for a preoduct that depends on the demand for another product used in combination with it. 198 |
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Term
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Definition
| demand that, throughout an industry, will not change significantly due to a price change. 199 |
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Term
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Definition
| inventory policies seek to boost efficiency by cutting inventories to absolute minimum levels and by requiring vendors to deliver inputs as the production process needs them. 199 |
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Term
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Definition
| buying a firm's entire stock of a product from just one supplier. 199 |
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Term
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Definition
| leads suppliers to place representatives at the customer's facility to work as part of integrated, on-site customer-supplier team. 199 |
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Term
| Make Buy or Lease Decision |
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Definition
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Term
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Definition
| using outside vendors to produce goods and services formerly produced in-house. (business outsourcing reasons)200 |
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Term
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Definition
| movement of high-wage jons from the U.S. to lower-cost overseas locations. 201 |
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Term
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Definition
| purchasing from several vendors 203 |
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Term
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Definition
| are respoonsible for securing needed products at the best possible prices. 204 |
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Term
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Definition
| or centralization of the procurement function. 204 |
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Term
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Definition
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Term
| Stages in the B2B Buying Process |
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Definition
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Term
| Classifying Business Buying Situations |
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Definition
| 1) straight rebuying, 2) modified rebuying, 3) new-task rebuying. 206 |
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Term
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Definition
| a recurring purchase decision in which a customer reorders a product that has satisfied needs in the past. 206 |
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Term
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Definition
| a purchaser is willing to reevaluate available options. 206 |
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Term
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Definition
| first time or unique purchase situations that require considerable effort by the decision makers. 206 |
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Term
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Definition
| a practice of buying from suppliers that are also customers. 207 |
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Term
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Definition
| systematic study of the components of a purchase to determine the most cost-efficient approach. 207 |
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Term
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Definition
| assesments of supplier performance in areas such as price, back orders, timely delivery, and attention to special requests. 207 |
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Term
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Definition
| participants in an organizational buying action. 207 |
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Term
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Definition
| control the information that all buying center members will review. 208 |
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Term
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Definition
| affect the buying decision by supplying info to guide evaluation of alternatives or by setting buying specifications. 208 |
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Term
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Definition
| chooses a good or service 208 |
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Term
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Definition
| has the formal authority to select a supplier and to implement the procedures fro securing the good or servvice. 208 |
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Term
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Definition
| combining several sales associates or other staff assist the lead account representative in reaching all those who influence the purchase decision. 209 |
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Term
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Definition
| production to restore worn-out products to like-new conndition. 212 |
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